Croda says strength of UK currency will dent full-year profits

1:41 PM MDT | June 24, 2014 | Ian Young

Croda (Goole, UK) says its full-year pretax profits will be below the £251.4 million ($426.9 million) it posted in 2013. Croda cites the stronger UK currency. "For the full year, if sterling remains at current levels, the currency translation and transaction effects we are seeing would have reduced the pretax profit reported in 2013 by approximately £19 million—£13-million currency translation plus an estimated £6-million currency transaction," Croda says. "Whilst we still expect to achieve underlying profit...